Shareholders should , also ,demand listing of Macrofil Investments in NSE / BSE

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Till date, the most powerful tool in the hands of minority shareholders has been bringing a suit for oppression and mismanagement, said Suhail Nathani, managing partner, Economic Law Practice. "Under the 2013 Companies Act, Section 245, over 100 shareholders can also file a class action suit but its application and enforcement is still nascent," he said.

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Recently Digvijay Finlease made a proposal of consolidating the face value of its share from Rs. 10 to Rs. 1000. Those holding fractions i.e. holding 1 to 99 shares were to be compulsorily paid Rs. 200 per Rs. 10 share. The intrinsic NAV of one share of Digvijay Finlease ( Rs. 10 paid up ) had been worked out by some to be Rs.40,000 .

After shareholders raised the matter with the Company. Ministry of Corporate Affairs , New Delhi and NCLT , Digvijay was forced to withdraw this Anti Small Shareholder step .

June 18, 2009

Macrofil Investments Limited

Macrofil Investments Ltd. was incorporated by Bombay Dyeing. The investments of Bombay Dyeing were transferred to this company. The shareholders of Bomaby Dyeing were offered subscription of shares of this company. Very few applied. Most of new shares were allotted to promoters of Bombay Dyeing.

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June 18, 2009

Macrofil Investments Limited

Macrofil Investments Ltd. was incorporated by Bombay Dyeing. The investments of Bombay Dyeing were transferred to this company. The shareholders of Bomaby Dyeing were offered subscription of shares of this company. Very few applied. Most of new shares were allotted to promoters of Bombay Dyeing.

Macrofil Investments Limited holds , at cost price, a large holding of other group companies mainly National Peroxide Ltd. The market worth of the holdings is many times the book value .The company had offered Buy Backs and further reduced the share capital.

General Warning : Investment in Shares Can be Injurious to Your WEALTHCaution :The blog writer has personal/ family members' holdings in this company , so please make suitable "provisions " for likely over optimism( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog .